Recommended as ‘highly knowledgeable on all key legal areas’, CMS ‘brings this knowledge to transactions to help navigate difficult topics and advanced transactions’. The firm has particular strength in the European and Asian markets, combining this with an integrated US securities law capability. Providing ‘excellent sector expertise’, the team advises a range of issuers including FTSE 250 companies. Practice head Alasdair Steele is an experienced capital markets and corporate lawyer, advising banks and issuers on Main Market and AIM matters, including trading companies and listed funds, as well as domestic UK and overseas issuers.
Equity capital markets – small-mid cap in London
CMS
Practice head(s):
Alasdair Steele
Other key lawyers:
Graeme Bruce; James Parkes
Testimonials
‘Excellent communication and practical, proactive advice.’
‘Approachable, accessible – really felt that they were part of our team and as invested in completing the IPO as we were. As a new company to market, we received an enormous amount of support, guidance (practical and informed, no jargon) and they went above and beyond to answer questions, problem solve and manage us through the process.’
‘Fantastic firm. All round strength. Well staffed and reasonable pricing. Excellent sector expertise as required. Good commercial judgement. Big fan of James Parkes and his associates.’
Key clients
Tortilla Mexican Grill
ActiveOps
Big Yellow Storage
Aquila
London Metric
Sequoia Economic Infrastructure Fund
Numis Securities
Peel Hunt
Stifel Nicolaus Europe Limited
Smart Metering Systems
Work highlights
- Advised ActiveOps on its successful IPO and admission to trading on AIM.
- Advised Tortilla Mexican Grill on its successful listing and admission to trading on the AIM market of the London Stock Exchange.
- Advised Smart Metering Systems on its latest £175m equity placing.
DLA Piper
With a sweet spot in the mid-market, DLA Piper covers the main market of the London Stock Exchange and AIM. The firm advises on transfers between the London Stock Exchange’s markets and handles issuer and underwriter transactions, as well as equity funded M&A activity. Another key selling point for the practice is its London and EU-based US securities expertise. Alex Tamlyn spearheads the team and his experience includes corporate finance work, UK and international securities offerings, Class 1 acquisitions and disposals, schemes of arrangement and securities regulation. Key names in the team are Martin Penn, who handles a range of ECM transactions; and legal director Karin Kirschner, whose strengths are AIM and Main Market transactions.
Practice head(s):
Alex Tamlyn
Other key lawyers:
Martin Penn; Karin Kirschner
Key clients
Watkins Jones
Dignity Funerals plc
PureTech Health plc
Allied Minds plc
Dechra Pharmaceuticals plc
Aptitude Software Group plc
Learning Technologies Group plc
RPS Group plc
Medica Group plc
John Menzies plc
Knights Group Holdings plc
Mothercare plc
Staffline Group plc
International Personal Finance plc
Montana Aerospace AG
Eurasia Mining plc
Science Group
Abry Partners
Brickability Group plc
Keyword Studios plc
MKS Instruments
Philip Morris International
HUTCHMED China
Keller Group plc
CVS Group plc
Work highlights
- Advising Learning Technologies Group (LTG) on its placing of new ordinary shares, which raised gross proceeds of £85m.
- Advising Staffline on transforming its balance sheet through an equity fundraise (structured as a placing, subscription and open offer, which in aggregate raised £48.4m) and a debt refinance (providing for up to £105m).
- Advising an investment bank syndicate comprising Goldman Sachs, Canaccord Genuity, finnCap and Numis as Joint Bookrunners on Ideagen’s placing to institutional investors and primary bid offer.
Norton Rose Fulbright
Mid-market specialist Norton Rose Fulbright advises on the issuer and bank side of deals, with particular experience in the latter. The firm has an extensive global network and expertise across a range of sectors, notably the pharmaceuticals, REIT and real estate industries. The practice’s advice runs the gamut of equity and equity-related transactions, including FTSE 100, AIM and listed fund matters. Richard Sheen
is a go-to name in the area and focuses on equity capital markets and investment funds work. Expert in IPOs, equity fund raisings and sponsor transactions Fiona Millington is recommended as ‘a safe pair of hands‘, and Clementine Hogarth is also active in the space - her fortes being ECM and corporate advisory work for public companies and investment banks. Raj Karia
leads the group.
Practice head(s):
Raj Karia
Other key lawyers:
Richard Sheen; Fiona Millington; Clementine Hogarth; Alexander Green; Ian Forbes
Testimonials
‘Great service, always available to deal with detailed questions.’
‘Clementine Hogarth and Ian Forbes provided a great service to solve problems and deal with unprecedented deal situations.’
‘Fiona Millington is a safe pair of hands.’
‘Clementine Hogarth is a really energetic and proactive lawyer, full of enthusiasm.’
‘Alexander Green is a very strong lawyer, one to watch.’
Key clients
Numis Securities Limited
Peel Hunt
Canaccord Genuity Limited
Cantor Fitzgerald
Mortgage Advice Bureau Holdings
Grant Thornton
Investec Bank plc
Tullow Oil plc
Taylor Maritime Investments Ltd
J.P. Morgan Securities plc.
Goldman Sachs International
Orascom
Aedifica
Warehouses de Pauw (WDP)
Taleem Management Services
Xior Student Housing
Ekopak
Work highlights
- Advised Peel Hunt LLP and Stifel Nicolaus Europe Limited as joint global coordinators and joint bookrunners and Grant Thornton as nominated adviser on leading UK mid and small cap investment bank’s Peel Hunt Limited’s £280m placing of new and existing shares, an intermediaries offer, an employee offer and admission to trading on AIM.
- Advised Investec Bank plc as sponsor, sole global co-ordinator and sole bookrunner on the £274m IPO and premium listing on the London Stock Exchange of Stelrad Group PLC, a leading specialist manufacturer and distributor of steel panel radiators in the UK, Europe and Turkey.
- Advised Taylor Maritime Investments Limited on its IPO and premium listing on the London Stock Exchange.
Pinsent Masons LLP
Known for its small-mid cap expertise, Pinsent Masons LLP has ‘a highly responsive and cohesive service across disciplines, underpinned by the key foundation of excellent understanding of both regulation and market practice’. The firm provides sector specialisms in the online retail, life sciences and technology industries, combined with experience across the spectrum of AIM market matters. Julian Stanier spearheads the practice, advising international and UK issuers and investment banks on IPOs and equity fundraisings in London and abroad. Other key names in the area include Gareth Jones, who focuses on ECM and M&A, notably AIM transactions, IPOs, secondary offerings and public takeovers; and legal director Adam Cain, who specialises in public M&A and equity capital markets matters.
Practice head(s):
Julian Stanier
Other key lawyers:
Gareth Jones; Alan Diamon; Adam Cain; Alasdair Weir
Testimonials
‘Practical, partner led advice.’
‘Julian Stanier provides pragmatic commercial advice, delivering to tight timetables whilst remaining highly engaged throughout the process.’
‘A good all round team offering excellent value and advice (not just options).’
Key clients
Zeus Capital Limited
Sirius Real Estate
4D pharma plc
Facilities by ADF
ANGLE plc
Strip Tinning Holdings plc
Cenkos Securities plc
Linde plc
WH Ireland Limited
Craneware Plc
Seraphine Group plc
Investec Bank plc
Liberum Capital Limited
Canaccord Genuity Limited
Singer Capital Markets Limited
Numis Securities Limited
Induction Healthcare Group plc
SP Angel Corporate Finance LLP
Springfield Properties plc
Jersey Oil & Gas plc
Work highlights
- Advised Seraphine Group plc on its £150.2m IPO and admission to the premium listing segment of the Official List and to trading on the London Stock Exchange’s main market for listed securities.
- Advised Arena Events Group plc on a recommended all cash offer by joint offerers IHC Industrial Holding LLC and Tasheel Holding Group LLC.
- Advised Sirius on an accelerated bookbuild share placing on both the London and Johannesburg stock exchanges which raised gross proceeds of £137m to part-fund the £380m acquisition of BizSpace, a leading provider of regional flexible workspace.
Stephenson Harwood
Focusing on mid-cap work, Stephenson Harwood is particularly active at the top end of the AIM market and its ‘excellent specialist knowledge’ includes funds and trading companies matters. Acting on the company and bank side, the firm handles a range of IPOs, secondaries and takeovers, notably the takeover of listed companies. The deep bench is led by AIM market expert Tom Nicholls
and includes David Dowding, who advises corporates, investment banks and brokers on Main Market and AIM IPOs, secondary fundraisings and public takeovers.
Practice head(s):
Tom Nicholls
Other key lawyers:
Jack Digby; Tom O’Connor; David Dowding; Carolyn Hall; Tom Page
Testimonials
‘Highly responsive to client requests and excellent specialist knowledge.’
‘Partner remained involved and fully engaged throughout our IPO. Tremendous dedication.’
‘Very responsive and user friendly. Efficient and effective. Good advice.’
‘Found Jack Digby and Tom O’Connor to be excellent to work with – nothing was too much trouble.’
Key clients
Aberdeen UK Tracker Trust
Acacia Pharma Group plc
Acorn Income Fund Limited
Akur Limited
Allianz Global Investors GmbH
Allianz Technology Trust PLC
Alternative Asset Opportunities PCC Limited
Alternative Credit Investments plc
Alternative Liquidity Fund Limited
Alvarium RE Limited
Alvarium Securities Limited
APQ Global
Arden Partners plc
Aseana Properties Limited
Ashoka India Equity Investment Trust plc
Atlantis Japan Growth Fund Limited
Augmentum Capital LLP
Augmentum Fintech plc
AVI Japan Opportunity Trust plc
BB Healthcare Trust plc
Big Society Capital Limited
BDO LLP
Berenberg
BlackRock Income & Growth Investment Trust plc
BlackRock Smaller Companies Trust plc
BlackRock Throgmorton Trust plc
Camper & Nicholsons Marina Investments Limited
Canaccord Genuity Limited
Cantor Fitzgerald Europe
CC Japan Income & Growth Trust plc
Cenkos Securities plc
City of London Investment Trust plc
Corevestis Portfolio Management GmbH
Coupland Cardiff Asset Management
Development Partners International LLP
Dr. Peters Holding GmbH
Dragon Capital Limited
Draper Esprit VCT plc
easyHotel plc
Eighteen East Capital Limited
E-Therapeutics Plc
European Opportunities Trust plc
European Real Estate Investment Trust Limited
Fair Oaks Income Limited
finnCap Limited
Focusrite plc
GCP Infrastructure Investments Limited
Geiger Counter Limited
Gore Street Capital Limited
Gore Street Energy Storage Fund plc
Gravis Advisory Limited
Gravis Capital Management Limited
Grit Real Estate Income Group Limited
Gulf Investment Fund plc
Henderson Global Trust plc
Henderson International Income Trust Fund
Henderson Value Trust
Hipgnosis Song Management Limited
Home REIT plc
Hotel Chocolat plc
Impax Asset Management Group plc
Invesco Fund Managers Limited
Investec Bank plc
Jefferies International Limited
J.P. Morgan Cazenove
Jupiter Emerging & Frontier Trust plc
Jupiter UK Growth Investment Trust PLC
Jupiter Green Investment Trust plc
Liberum Capital Limited
Lowland Investment Company plc
LXI REIT plc
Kudu Investment Management, LLC
Landore Resources Limited
Manchester & London Investment Trust plc
Manolete Partners plc
MIGO Opportunities Trust PLC
Mobius Capital Partners LLP
Mobius Investment Trust plc
Nichols plc
Novacyt SA
Numis Securities
Oakley Capital Investments Limited
Oncimmune Ltd
Panmure Gordon (UK) Limited
Peel Hunt LLP
PMM Partners
Premier Miton Global Renewables Trust plc
Premier Miton Investors
Qatar Investment Fund plc
Sancus Lending Group Limited
Scape Living plc
Scape Student Living Limited
Schroder British Opportunities Trust plc
Schroder BSC Social Impact Trust plc
Schroder Investment Management Limited
Schroder Real Estate Investment Management Limited
Schroder UK Public Private Trust plc
Secured Income Fund plc
Seraphim Space Investment Trust plc
Seraphim Space (Manager) LLP
Shield Therapeutics plc
Shore Capital and Corporate Limited
Singer Capital Markets
SP Angel
Stifel Nicolaus Europe Limited
Stockdale Securities Limited
Strand Hanson Limited
Strategic Equity Capital plc
Sturgeon Capital Limited
SuperSeed Capital Limited
SuperSeed Ventures LLP
The Bauhaus Investment Trust plc
The Bankers Investment Trust PLC
The Brunner Investment Trust PLC
The Diverse Income Trust plc
The Merchants Trust PLC
Victory Park Capital Advisors
Vietnam Enterprise Investments Limited
Vietnam Holding Limited
WH Ireland
Whiteoak Capital Group
Winterflood Securities Limited
Work highlights
- Advised Liberum, as nomad and sole broker, on the £70m initial public offering of Tortilla Mexican Grill Plc, on the London Stock Exchange’s AIM.
- Advised on the IPO of the first London listed space fund. The deal saw the launch of Seraphim Space Investment Trust plc, with a mandate to invest in early and growth stage privately financed space tech businesses.
- Advised British chocolatier Hotel Chocolat Group plc on its £40m fundraising by way of a secondary placing of new ordinary shares, as well as an additional retail offer made via the PrimaryBid platform.
Travers Smith LLP
Strong in the technology and financial services sectors, Travers Smith LLP provides ‘a strong partner led team, with a depth of knowledge across the group’. The firm’s ECM work includes assisting issuers, financial institutions, management, selling shareholders and cornerstone investors on IPOs, secondary issuances and other transactional matters. Head of corporate Spencer Summerfield
co-leads the team with Andrew Gillen, who advises companies and underwriters on a range of ECM transactions. Notable in the area is Richard Spedding, who acts as underwriter or issuer counsel and is a stand-out name in mid-market investment bank matters in London. The broad team also includes Tom Coulter, who specialises in advising clients on public and private mergers, acquisitions and disposals, corporate joint ventures, IPOs and equity fundraisings; and Adrian West, who focuses on advising corporate issuers, investment banks and management teams on IPOs and secondary fundraisings on the Main Market and AIM.
Practice head(s):
Spencer Summerfield; Andrew Gillen
Other key lawyers:
Richard Spedding; Tom Coulter; Adrian West
Testimonials
‘Richard Spedding is a very commercial, experienced lawyer. Very user friendly.’
‘A strong partner led team, with a depth of knowledge across the group. Proactive and efficient and show a pragmatic approach to achieve desired outcomes.’
Key clients
Foresight Group
Marks Electrical
McColl’s Retail Group
Distribution Finance Capital
Benchmark
Marwyn
Jefferies
Numis
Berenberg
Liberum
Peel Hunt
Investec
finnCap
Arden Partners
Deutsche Bank
J.P Morgan Cazenove
Work highlights
- Advised Foresight Group on its £455m Main Market IPO.
- Advised Berenberg on the £255m AIM IPO of LendInvest Plc.
- Advised Jefferies on the IPO of Taylor Maritime Investments Limited.
Addleshaw Goddard
Known for transactions involving AIM and Main Market listed companies, Addleshaw Goddard provides experience in acting for issuers, financial advisers, brokers, financial intermediaries and investors across a range of industry sectors. The firm is recommended for its ‘great technical expertise, especially in Takeover Code matters’. Private and public M&A specialist Nick Pearey leads the team that includes the ‘extremely diligent and pragmatic’ Giles Distin
, who has ‘expert knowledge of the public market rules’. Distin focuses on transactions involving UK listed companies and advising on UK PLC regulation and compliance.
Practice head(s):
Nick Pearey
Other key lawyers:
Giles Distin; Roger Hart
Testimonials
‘Great technical expertise, especially in Takeover Code matters. Very enthusiastic and helpful.’
‘The corporate team at Addleshaw Goddard is an expert in small-mid cap deals and provides excellent value for money.’
‘We work regularly with Giles Distin on both ECM and Public M&A deals, who is efficient and has excellent technical knowledge – particularly of the Takeover Code. We would never hesitate to instruct him.’
‘Roger Hart leads and has a depth and breadth of experience, combined with a very hands on personal approach. Clients consistently report enjoying working with him.’
‘Addleshaw Goddard are an experienced, reliable law firm. Their work has always been of a high quality and delivered on time. They are able to advise on a broad spectrum of issues and I always feel like I am getting expert advice.’
‘High quality individuals. In particular, I would mention Giles Distin, who proved himself to be extremely diligent, pragmatic and had an expert knowledge of the public market rules.’
Key clients
Allenby Capital Limited
Alpha Financial Markets Consulting plc
Berenberg
Entain plc
Fenchurch Advisory Partners LLP
finnCap
genedrive plc
GENinCode plc
LBG Media plc
IMImobile plc
Immunodiagnostic Systems Holdings Plc
Investec Bank plc
JD Sports Fashion plc
J.P. Morgan Cazenove
Liberum Capital Limited
musicMagpie plc
NAHL Group plc
On The Beach plc
Rathbone Brothers plc
Raymond James Financial International Limited
Sanne Group plc
Shore Capital
Singer Capital Markets
Team17 Group plc
Teneo Corporate Finance
WG Partners
Zeus Capital Limited
Ashurst
Known for its breadth of practice, Ashurst acts for issuers, shareholders and leading investment banks across a range of ECM transactions, notably de-mergers. The firm also has substantial US securities expertise. Nicholas Holmes is ‘one of the leading legal minds and legal voices in the London ECM market’. He co-leads the practice with Jennifer Schneck, who advises corporate clients and investment banks on global securities offerings; and Stuart Rubin, whose fortes are international equity capital markets and M&A transactions across Europe and Asia. Another notable name in the team is Simon Bullock, who is recommended as ‘very strong in UK capital markets‘.
Practice head(s):
Nicholas Holmes; Jennifer Schneck; Stuart Rubin
Other key lawyers:
Simon Bullock
Testimonials
‘Nicholas Holmes is an excellent practitioner. Top drawer and a brain the size of planet.’
‘Simon Bullock is very strong in UK capital markets.’
‘Nicholas Holmes is one of the leading legal minds and legal voices in the London ECM market. He is straightforward, commercial, doesn’t settle for the ‘easy’ answer and crucially he always has a view. I always feel in very safe hands when he is advising me – and know I’ll be treated fairly when he’s advising on the other side. He is one of my go-to lawyers on a wide range of matters.’
Key clients
Goldman Sachs
Morgan Stanley
Softcat
Jefferies
Barclays
Bank of America Merrill Lynch
Numis
EnQuest
Citi
Credit Suisse
Chesnara
Tritax EuroBox
Lamprell
J.P. Morgan
Peel Hunt
Deutsche Bank
Work highlights
- Advised Numis Securities Limited and J.P. Morgan Cazenove in connection with a £244m equity fundraising by way of a cash box placing by Auction Technology Group plc.
- Advised Jefferies in connection with a $433.5m class 1 disposal by PureTech Health plc.
- Advised Peel Hunt in connection with its £280m IPO.
Bryan Cave Leighton Paisner LLP
‘Particularly dedicated partner’ Alexander Keepin leads the Bryan Cave Leighton Paisner LLP team and specialises in IPOs and secondary issuances on the Main Market and AIM. The ‘efficient, technically on point and very commercial’ practice is known for advising AIM listed clients and those looking to list on AIM. The firm provides global reach and notable expertise in the energy and natural resources sectors. Benjamin Lee is also recommended as ‘an extremely versatile adviser with the full range of skills across public markets and private M&A’.
Practice head(s):
Alexander Keepin
Other key lawyers:
Benjamin Lee; Nick Myatt; Kurt Ma; Marie Johnson
Testimonials
‘We consistently use the Corporate Finance team at Bryan Cave Leighton Paisner and they consistently provide an excellent service. The team are efficient, technically on point and very commercial. They are very much our trusted legal advisers. Work aside, they are also a personable team who we enjoy working with very much.’
‘We rate Ben Lee at BCLP very highly. He is commercial and an excellent lawyer. He is an extremely versatile adviser with the full range of skills across public markets and private M&A as well as private equity. We also work very closely with three other corporate partners, Nick Myatt, Kurt Ma and Marie Johnson who are all very good too.’
‘Very knowledgeable and experience team. Dedicated and highly available.’
‘Great human skills, pleasant to work with.’
‘We work regularly with Alexander Keepin on UK small cap energy & natural resources ECM transactions. They have a thorough grasp of the key issues and market practice, both issuer and bank side. Their client board portal is notably intuitive and user-friendly.’
‘Alexander Keepin is particularly dedicated partner in the space and can be relied upon to maintain a high level of partner involvement at all phases of a transaction.’
Key clients
Wheaton Precious Metals
Peel Hunt
Vision Blue Resources Ltd
Alkemy Capital Investments plc
Pensana Plc
Pantheon Resources
Ncondezi Energy
Trident Royalties
finnCap Ltd
i (x) Net Zero Plc
BMO Capital Markets Limited
Alkemy Capital Investments plc
Work highlights
- Advised Trident Royalties Plc, the growth-focused mining royalty and streaming company, on four deals including the transformational acquisition of Gold Offtakes for $68m.
- Advised Vision Blue Resources Ltd, a newly created battery commodity/resource-focused investment company, on its up to $12.6m investment in Ferro-Alloy Resources Limited.
- Advised i(x) Net Zero PLC, the investing company which focusses on Energy Transition and Sustainability in the Built Environment, on its initial public offering on AIM.
Eversheds Sutherland (International) LLP
Experienced in Main Market and AIM matters, Eversheds Sutherland (International) LLP handles IPOs, reverse takeovers, fundraisings, and public and private M&A for domestic and international clients. Cross-border work is a particular forte for the group, that can draw from a broad international footprint. Corporate specialist Richard Moulton co-leads the team with Stephen Nash, who focuses on equity capital markets and public company takeover transactions.
Practice head(s):
Stephen Nash; Richard Moulton
Other key lawyers:
Ali Cree; Mark Roe
Testimonials
‘The firm is a big firm yet gives a smaller firm feel: the level of attention and partner service is excellent. Eversheds consistently make you feel like their number one client which I really appreciate.’
‘Ali Cree is both technically excellent and down to earth. He gives commercially focused and pragmatic advice. He really makes the effort to understand our business and what/how I want my advice given.’
‘Mark Roe (London, Corporate) is very commercial which is much appreciated by busy clients who don’t need lecturing on the law – they need solutions, which he delivers efficiently.’
Key clients
ProCook Group plc
Genuit Group plc
NewRiver REIT plc
Lookers plc
Integrafin Holdings plc
Eurocell plc
Tyman plc
Norcos plc
Gresham House Energy Storage Fund plc
VH Global Sustainable Energy Opportunities plc
Fieldfisher
Specialising in the energy, natural resources and life sciences sectors, Fieldfisher handles IPOs/listings in the UK and Europe, secondary issuances and M&A deals involving listed companies. Practice head Brad Isaac has a particular focus on energy and natural resources mandates, as well as advising on ECM matters related to technology and life sciences companies, acting for issuers and brokers. Also active in the area is Edward Westhead, whose focus is the life sciences and healthcare sector, as well as advising on energy, natural resources and technology ECM deals.
Practice head(s):
Brad Isaac
Other key lawyers:
Dominic Gurney-Champion; Edward Westhead
Testimonials
‘The corporate team is filled with excellent lawyers. Pragmatic, personable and high quality. I could not recommend them highly enough.’
‘Dominic Gurney-Champion is one of the very best I have known in 20 years in public markets. He has deep expertise in small/mid cap companies. He is a strategic thinker and is always available, and importantly, always gives ‘partner time’ on a project. He is typical of the pragmatic and commercial advice you get from this firm. He is exceptional and a credit to the industry.’
‘The team is very approachable and they have a good number of experienced partners that are easy to speak with on complex issues.’
Key clients
Abingdon Health PLC
Access Intelligence PLC
ADVFN PLC
Amur Minerals Corporation
Ascent Resources PLC
Atalaya Mining PLC
ATOME Energy plc
Beowulf Mining PLC
Best of the Best PLC
Byotrol PLC
Central Asia Metals PLC
Checkit PLC
Cornish Metals Inc.
Craven House Capital PLC
CT Automotive Group plc
Devolver Digital, Inc.
Echo Energy PLC
eEnergy Group PLC
EQTEC PLC
Gelion PLC
GlobalData PLC
Gusbourne PLC
Harland & Wolff Group Holdings plc
Haydale Graphene Industries PLC
Hurricane Energy PLC
Independent Oil and Gas PLC
InnovaDerma plc
Inspiration Healthcare Group PLC
Itaconix PLC
Jaywing PLC
KEFI Gold and Copper plc
Kodal Minerals PLC
KRM22 PLC
Live Company Group PLC
Made Tech Group plc
Marlowe PLC
Merit Group plc
Nu-Oil and Gas PLC
Online Blockchain PLC
Pires Investments PLC
President Energy PLC
Property Franchise Group (The ) PLC
Public Policy Holding Company, Inc.
Restore PLC
Saietta Group plc
San Leon Energy PLC
Savannah Resources plc
Seeing Machines Ltd
SigmaRoc PLC
Synairgen PLC
Tristel PLC
Velocity Composites PLC
Versarien PLC
Wynnstay Properties PLC
Allenby Capital
Canaccord Genuity
Cenkos Securities
Cormark Securities Inc.
Dowgate Capital
finnCap
Grant Thornton
Joh. Berenberg, Gossler & Co. KG
Liberum Capital Limited
Numis Securities Limited
Panmure Gordon (UK) Limited
Shore Capital
Singer Capital Markets
SP Angel Corporate Finance LLP
Stifel Nicolaus Europe Limited
Strand Hanson Limited
Tamesis Partners LLP
Tennyson Securities Limited
WH Ireland
Zeus Capital Limited
Work highlights
- Advising award-winning US video game publisher Devolver Digital, Inc. on its admission to trading on AIM, raising $261m and valuing the company at a $950m market cap, making it the second largest ever IPO on AIM.
- Advising Public Policy Holding Inc., a leading bi-partisan, full service US government affairs business based in Washington DC, on its admission to AIM in December 2021, in combination with a placing raising £30.7m.
- Advising Access Intelligence on a fundraising and re-admission to AIM, raising £50m to fund the takeover of ASX-listed Isentia Group.
Gowling WLG
Corporate finance partner Charles Bond leads the Gowling WLG practice and has particular expertise advising clients with assets in developed and emerging markets. His team handles Main Market and AIM transactions, acting for issuers and investment management houses as well as investment banks and brokers. The firm provides a full service in the area, drawing from its strengths in corporate, finance, tax, regulatory and dispute resolution. Notable specialisms include technology mandates, cross-border matters and advising mining companies listing on AIM.
Practice head(s):
Charles Bond
Other key lawyers:
David Brennan
Testimonials
‘Very competent team with excellent sector knowledge.’
‘David Brennan is an exceptional lawyer and provides clear, straightforward advice focussed on the key risk issues at hand.’
Key clients
Codemasters Group Holdings plc
Revolution Bars Group plc
Urban Logistics REIT plc
Molten Ventures plc
Phoenix Copper Limited
Bacanora Lithium plc
Bushveld Minerals Limited
AfriTin Mining Limited
Cenkos Securities plc
H&T Group plc
Panmure Gordon Shore Capital and Corporate Limited
Hummingbird Resources plc
Altus Strategies PLC
Shore Capital
Arrow Exploration Corp
Forward Partners Group plc
finnCap Limited
Pyx Resources Limited
SP Angel Corporate Finance LLP
Berenberg (London branch)
Canaccord Genuity
Work highlights
- Acted on the £248m cash takeover of Bacanora by one of the largest lithium compound producers in the world, Ganfeng Lithium from China.
- Acted for Canaccord on the dual listing on AIM of the first listed Nigerian gold mining company, Thor Explorations Limited (listed on TSX).
- Advised finnCap, as financial adviser to Cambria Bidco Limited, on its recommended cash offer for AIM listed company, Cambria Automobiles plc and the cash confirmation statement given by finnCap in the announcement of the offer.
K&L Gates LLP
Active at the top end of the AIM market, K&L Gates LLP has international expertise combined with particular strengths in the energy and technology sectors. The firm advises on the company side, as well as representing nomads and brokers across a range of ECM matters. Paul Tetlow leads the practice and ‘runs a commercial and good value ECM business’. He can call on the expertise of James Green, whose experience includes IPOs and secondary issuances, takeovers and M&A, domestically and internationally.
Practice head(s):
Paul Tetlow
Other key lawyers:
Tom Wallace; James Green
Testimonials
‘Awesome team!’
‘Tom Wallace is great!’
‘The team is led from the top, but is very strongly supported throughout the more junior ranks. The team cares about the outcome, and that is what really makes them different from other big law firms.’
‘As each year rolls by we have now worked with the team for a very long time. We know them well and they fully understand us and our needs well. They are exceptionally diligent, but with a strong commercial acumen, and they care about the securing the right outcome. Both Paul Tetlow and James Green set the tone and ethics from the top, I thoroughly recommend both of them.’
‘Paul Tetlow runs a commercial and good value ECM business with a good US practice.’
‘Paul Tetlow comes highly recommended – he has a very commercial and direct manner which addresses problems and keeps costs down.’
Key clients
Dianomi Group PLC
Longboat Energy PLC
Panmure Gordon (UK) Limited
CML Microsystems PLC
finnCap Ltd
ProPhotonix Ltd
Cenkos Securities plc
Singer Capital Markets
Stifel Nicolaus Europe Limited
AEX Gold
Fonix Mobile plc
Deltic Energy plc
Peel Hunt LLP
Canaccord Genuity Limited
Axonics, Inc.
Work highlights
- Acted for Dianomi Group plc on its AIM admission and associated £37m placing of new and existing shares.
- Advising Longboat Energy PLC on three farm-ins (with Equinor, Idemitsu and Spirit Energy), a £35m fundraising and its re-admission to AIM.
- Advising Panmure Gordon (UK) Limited on the acquisition by Kistos plc of Tulip Oil Netherlands B.V., a fundraising to raise £52.5m and the re-admission of Kistos plc to AIM.
Osborne Clarke LLP
Experienced in IPOs, secondary offerings and public M&A, Osborne Clarke LLP provides broad expertise in the ECM space, a notable specialism being AIM transactions. The firm focuses on high-value listings and follow-on offerings for mid-sized public companies, investment banks and a range of nomads, sponsors and bookrunners. Sectors of particular activity for the practice span the financial services, technology, life sciences, renewable energy and real estate industries. Practice head Jonathan King
is ‘a veteran of the UK small/mid cap ECM market’; his team includes senior associate Ed Nisbet, who is recommended for his ‘thorough knowledge of the fundraising process’ and ‘timely advice at every stage’.
Practice head(s):
Jonathan King
Other key lawyers:
Mark Wesker; Stuart Miller; Ed Nisbet
Testimonials
‘We appreciate the responsive and knowledgeable service provided by Osborne Clarke, guiding the company efficiently through every step. Osborne Clarke’s communication with the company and other advisers was excellent.’
‘Mark Wesker’s familiarity with our technology, business model, and leadership team helped to ensure a smooth ‘no surprises’ fundraising project. Ed Nisbet displayed a thorough knowledge of the fundraising process and provided relevant and timely advice at every stage.’
‘Senior-level team actually does the work, and delivers advice in a holistic manner relevant to the needs of the client. Team is led by a highly experienced, 25 year ECM veteran and augmented by a highly capable broader team. Proof is in the pudding – they are highly active.’
‘Jon King, is a veteran of the UK small/mid cap ECM market. His collaborative approach and focus on what’s best for the client, rather than ‘winning’ sets him apart from his competitors.’
‘Stuart Miller has a broad level of transaction experience advising on IPOs, secondary fundraisings, the Listing Rules, DTRs, AIM Rules and Takeover Code.’
Key clients
Cenkos Securities plc
Investec Bank plc
Joh. Berenberg, Gossler & Co. KG, London branch
Liberum Capital Limited
Next Fifteen Communications plc
Elixirr International plc
Creo Medical Group plc
Marshall Motors Holdings plc
In The Style Group plc
Topps Tiles plc
Invinity Energy Systems plc.
Ebiquity plc
Hargreaves Lansdown plc
Actual Experience plc
Union Jack Oil plc
Tribal Group plc
TEAM plc
Destiny Pharma plc
AMTE Power plc
Work highlights
- Advised Next Fifteen Communications Group plc on its successful and over-subscribed £50m placing to part fund the acquisition of Engine Acquisition Limited.
- Advised Cenkos on the £150m AIM IPO of Lords Group Trading plc.
- Advising Marshall Motors Holdings plc on its £325m recommended offer by Constellation Automotive.
Bird & Bird LLP
Bird & Bird LLP’s experience runs the gamut of capital markets transactions across leading exchanges including the AIM market and the Main Market of the London Stock Exchange. The firm handles IPOs, secondary fundraisings, public and private takeovers and restructurings, advising on the company and bank side. Another key area of expertise for the practice is corporate governance and ESG related advice. Clive Hopewell spearheads the team and focuses on equity financings and IPOs, with particular strength advising on IPOs for companies already listed on a foreign stock exchange.
Practice head(s):
Clive Hopewell
Other key lawyers:
Simon Allport; Sophie Eyre; Nick O’Donnell
Testimonials
‘The teams we have worked with have always be fit-for-purpose in that the right expertise has been brought in with no excess. Team meetings have been very well managed and reported on.’
‘As with any professional firm, it is the individuals that you work with that really decide whether you work with that firm or not. We have dealt with 2 senior individuals – Simon Allport and Sophie Eyre – both of whom have provided us with a superb service in different legal areas. Both have taken the time to really understand the needs of our business and have given practical and succinct advice.’
‘Nick O’Donnell provides an excellent service – combining technical expertise and experience with an easy charm, even in the most stressed of situations. His interpersonal skills give him the ability to give hard advice in a way that is constructive and easy to accept – and provides a practical way forward. Highly recommended.’
Key clients
Cloudbreak Discovery plc
JKX Oil & Gas
Strand Hanson Limited
Albion VCT
Serum Life Science Ltd
Joh. Berenberg Gossler & Co KG
WH Ireland Limited
Tirupati Graphite plc
Tekcapital Plc
DP Poland plc
Canaccord Genuity Limited
Liberum Capital plc
Westminster Group Plc
Work highlights
- Assisted Imperial X plc (renamed Cloudbreak Discovery plc) on its reverse takeover and admission of its enlarged ordinary share capital to the standard listing segment of the Official List of the Financial Conduct Authority and to trading on the London Stock Exchange’s Main Market.
- Advised long-standing client Strand Hanson Limited alongside H&P Advisors Limited, and VSA Capital Group Limited on Tungsten West’s IPO and admission to the AIM market.
- Advised JKX Oil & Gas PLC on its delisting from the Main Market of the London Stock Exchange, $97.5m reduction of capital and helped the company effect an off-market buyback tender offer.
Charles Russell Speechlys LLP
The ‘technically savvy and very knowledgeable’ Charles Russell Speechlys LLP ECM practice specialises in the property, oil and gas, financial services and technology sectors. The firm handles a range of matters, notably takeovers, and has longstanding relationships with advisers, brokers and AIM Market Nomads. Practice head Andrew Collins specialises in corporate advice and transactional work; his team includes Paul Arathoon, who acts on capital market transactions for issuers and brokers on the Main Market and AIM, including debt and other non-equity capital issuances.
Practice head(s):
Andrew Collins
Other key lawyers:
Paul Arathoon; Anne-Marie Balfour; Edyta Brozyniak; Victoria Younghusband
Testimonials
‘CRS provides a team that is well balanced and partner led.’
‘The Company has been very well served by the lead partner, Andrew Collins. Andrew has a wealth of real estate and listed company experience and has guided the Board through a change of strategy over the last year.’
‘Anne-Marie Balfour has given timely and balanced advice over redrafting the executives’ service agreements. Her initiative and knowledgeable intervention provided a solution acceptable to all parties, while protecting the company’s best interests and involving the AIM nominated adviser.’
‘Excellent, personable service and team but technically savvy and very knowledgeable.’
‘Very responsive and friendly but provide great technical know how and service. Cost effective also, particularly for start up managers. I really value the input of Edyta Brozyniak and Victoria Younghusband who are both excellent.’
Key clients
Oracle Power
HeiQ Materials
CYBA
7digitial Group
Ergomed
1Spatial
Europa Oil & Gas
The Biotech Growth Trust
India Capital Growth Fund
Circle Property
Fidelity
Predator Oil & Gas
Transense Technologies
LiDCO Group
Dukemount Capital
Work highlights
- Acting for AIM-listed client Caretech Holdings plc on a contested offer for the company.
- Advised AIM quoted Transense Technologies plc on its share buy-back programme.
- Advised the Board of India Capital Growth Fund, an investment company listed on the main market of the London Stock Exchange, on the procedure for facilitating its first redemption facility.
Dentons
Specialising in small-mid market IPOs and secondary fundraising work, Dentons’ experience spans a range of sectors, notably the technology and healthcare industries. The firm is particularly active in the AIM market, as well as advising US companies coming to the London Stock Exchange (LSE). Neil Nicholson leads the team and handles matters related to UKLA listing rules, the AIM rules of the LSE and the UK Takeover Code. Other key names in the practice include Darren Acres, who advises on UK and cross-border corporate finance transactions; and associate Verity Kent, whose forte is AIM market transactions.
Practice head(s):
Neil Nicholson
Other key lawyers:
Verity Kent; Darren Acres
Testimonials
‘Neil Nicholson consistently provides excellent strategic advice and has depth of experience across both equity capital markets and public M&A.’
‘Dentons benefits from a significant global business that we find particularly useful for managing cross-border ECM deals. We benefit from being able to receive coordinated advice across multiple jurisdictions.’
‘Team is very knowledgeable and pragmatic. They are keen to focus on getting deals done in the simplest way possible.’
‘Neil Nicholson is a very experienced and approachable lawyer.’
Key clients
Science in Sport plc
RA International plc
Cenkos Securities plc
Informa plc
Kinovo plc
Quiz plc
PRS REIT plc
Hurricane Energy plc
Menzies (John) plc
Stifel Nicolaus Europe
Canaccord Genuity
Ondine Biomedical
Work highlights
- Advising Stifel Nicolaus Europe, as nomad and joint broker, and Liberum Capital, as joint broker, on a share placing for Science Group plc.
- Advising Stifel Nicolaus Europe, as nomad and sole bookrunner, on a share placing for Seeing Machines Limited.
- Advising Ondine Biomedical on its IPO and share placing on the AIM market of the London Stock Exchange.
Hill Dickinson LLP
Led by specialist in capital markets and M&A Michael Bennett, Hill Dickinson LLP’s ECM practice acts for issuers, nominated advisers, sponsors and brokers on Main Market, AIM and AQSE transactions. Cross-border work is a forte for the firm, which is particularly active in the pharmaceuticals and life sciences, medical cannabis, and energy and natural resources sectors.
Practice head(s):
Michael Bennett
Other key lawyers:
Shantanu Sinha
Testimonials
‘The team very quickly got to grips with the detail of the business and made the IPO process really straightforward for us.’
‘Shantanu Sinha is one of those rare individuals who can take a high level commercial view, whilst being all over the smallest details. He works extremely hard and never wastes time so everything gets done quickly and efficiently, within budget.’
Key clients
Big Technologies Plc
Yooma Wellness Inc.
Artemis Resources Limited
Agronomics Limited
Emmerson Plc
Arlington Group Asset Management Limited and WH Ireland Limited
Future Metals NL
Bens Creek Group Plc
Turner Pope Investments (TPI) Limited
Kanabo Group plc
Agronomics Limited
Bradda Head Lithium Limited
Orcadian Energy PLC
Firering Strategic Minerals plc
Genflow Biosciences Plc
Reabold Resources Plc
Hydrogen Future Industries PLC
ACP Energy PLC
Dekel Agri-Vision Plc
Spinnaker Acquisitions PLC/ Ondo InsurTech PLC
Work highlights
- Advised Big Technologies Plc on the fifth largest IPO in AIM’s history. The company raised over £200m for itself and its shareholders and was admitted to trading with a market value of around £577m.
- Advised AIM-listed client Agronomics Limited on an equity fundraise which raised gross proceeds of £62.5m.
- Assisted Kanabo Group plc in becoming the first company to publish an FCA approved prospectus for a medical cannabis issuer.
Hogan Lovells International LLP
Acting for issuers and underwriters, Hogan Lovells International LLP has experience in IPOs, secondary offerings, retail share offerings and the private placements of securities, as well as being active in privatisations, REITs and US public offering and private placements. Daniel Simons focuses on corporate transactions, particularly ECM matters and domestic and cross-border M&A. He co-leads the team with Jonathan Baird, Ben Garcia, Tom Brassington, Nicola Evans and Erik Jamieson.
Practice head(s):
Daniel Simons; Jonathan Baird; Ben Garcia; Tom Brassington; Nicola Evans; Erik Jamieson
Testimonials
‘Dan Simons is a good, commercial and pragmatic lawyer.’
‘Jonathan Baird is one of the few people who can do the UK and US work really well.’
Key clients
Barclays Bank PLC
Jefferies International Limited
Numis Securities Limited
Electra Private Equity plc
Southern Energy
J.P. Morgan
UBS
Marathon Group
Goldman Sachs
Grainger plc
Clipper Logistics plc
Shaftsbury plc
Peel Hunt
Work highlights
- Advised Electra Private Equity PLC on the demerger of hospitality group Hostmore plc, and the admission of the entire issued share capital of Hostmore to the premium listing segment of the FCA and to trading on the main market of the LSE
- Advised Pantheon on the IPO of UK investment company Pantheon Infrastructure PLC.
- Advised EFIC1, a special purpose acquisition company on its business combination with Dutch tech company Azerion, at an enterprise value of €1.3bn.
Mayer Brown International LLP
Mayer Brown International LLP represents issuers, investment banks, sponsors, placement agents and selling shareholders across the spectrum of ECM matters. Notable areas of work include public offerings and private placements, stock exchange listings, rights offerings, spin-offs, share buy-backs and demergers. The firm has a strong track record advising on IPO transactions, alongside capital raising and block trades. ‘Stand-out‘ Kate Ball-Dodd leads the team and focuses on corporate finance, M&A, equity fund raisings, joint ventures and corporate governance work.
Practice head(s):
Kate Ball-Dodd
Testimonials
‘Very strong partner led approach with senior involvement throughout. Collegiate approach and very joined up, with team members sharing transaction details seamlessly. Responsive and well diversified, it is the strongest ECM offering in the mid market.’
‘They have a very solutions driven philosophy and use their (and our) time well. They will always strive to ensure that the transaction progresses to plan but are very good at alerting the client if there are emerging issues.’
‘The stand-out is Kate Ball-Dodd.’
Key clients
Investec Bank plc
Liberbank, S.A.
Numis Securities Limited
Peel Hunt LLP
Velocys plc
Metrovacesa, S.A.
Vitruvian Partners
Lunglife AI
Promotora de Informaciones, S.A.
Work highlights
- Advised Delaware-incorporated Lunglife AI, Inc. on its IPO on the Alternative Investment Market of the London Stock Exchange.
- Advised Numis Securities Limited as sponsor and sole bookrunner in connection with the IPO of Seraphine Group plc, a digitally-led apparel brand, and on its admission to trading on the premium listing segment of the Main Market of the London Stock Exchange.
- Advised Tungsten West on its £40m equity fundraise, its debt project financing and admission to AIM with an initial market capitalisation of £106m.
Memery Crystal (part of RBG Legal Services)
Focusing on handling ECM transactions for international companies, Memery Crystal (part of RBG Legal Services) has expertise advising on listings on the Main Market and AIM, secondary fundraisings and dual listings. The firm’s sector strengths include the pharmaceuticals and life sciences, technology, natural resources and gaming industries, as well as a particular niche in the expanding cannabis market. Nick Davis is practice head and specialises in the cannabis, natural resources and technology sectors, with experience in London Stock Exchange and AIM transactions.
Practice head(s):
Nick Davis
Other key lawyers:
Kieran Stone
Testimonials
‘Memery Crystal’s independent, partner-led approach stands out from its competitors, combined with its depth of knowledge and experience, particularly for a firm of its size. The firm‘s priority is to its clients, meaning the team’s pragmatic and flexible approach, allied with its technical expertise ensures that the client’s goals are prioritised.’
‘Partners Nick Davis and Kieran Stone embody this approach, leading deals and differentiating themselves from their competitors with their focused, open and realistic approach, technical knowledge and ability to deliver a deal in line with what was promised.’
Key clients
Capital Partners
Yamana Gold
Cordel Group
Intuitive Investment Group
Graft Polymer (UK)
Shanta Gold
Taseko Mines
GAN plc
Gaming Realms
88 Energy
Kore Potash
Caldeonia Mining
Intelligent Ultrasound
Pure Gold
MOD Resources
Valeura Energy
VAALCO
Tethyan Resources
Kropz
Danakali
Petra Diamonds
Eneraqua Technologies
AFC Energy
Brave Bison Group
GreenRoc Mining
Zenova Group
MGC Pharmaceuticals
tinyBuild
Pelatro
Rainbow Rare Earths
Rambler Metals and Mining
Tlou Energy
Panmure Gordon
Cenkos Securities
Hannam Partners
Turner Pope Investments
Hybridian
Allenby Capital
Stifel
Berenberg
Tennyson Securities
Optiva Securities
Singer Capital Markets
Spark Advisory
Strand Hanson
Work highlights
- Advising MGC Pharmaceuticals on the UK’s first-ever listing of a medicinal cannabis business on the Main Market.
- Advising tinyBuild, a US-based leading video game developer and publisher on its admission to AIM and £154.4m oversubscribed placing.
- Advising Zeus Capital as Nominated Advisor and Broker on Revolution Beauty’s £300m placing and admission to AIM.
Reed Smith LLP
Known for its international expertise, Reed Smith LLP has a solid track record in AIM market matters with sector focus on the life sciences, real estate and financial services industries. Delphine Currie spearheads the practice and has experience advising on IPOs, fundraises and complex regulatory issues, particularly in the real estate and financial services industries.
Practice head(s):
Delphine Currie
Testimonials
‘Incredibly practical and on point advice. Simple answers when needed to simple questions. Specialists in whatever function are always available and rapidly brought up to speed to help us address our challenges.’
‘Delphine Currie in particular is superb at seeing elegant solutions to seemingly intractable problems.’
Armstrong Teasdale
Experienced in acting on public market M&A transactions, Armstrong Teasdale has a track record in IPOs on AIM, with a focus on the natural resources, life sciences, retail, biotechnology, chemicals, e-commerce, financial services and technology sectors. Joan Yu leads the practice and handles AIM and LSE Main Market matters, as well as public takeovers and reverse takeovers. The team was boosted by the 2022 arrivals of Nick Heap from Bird & Bird LLP, who advises clients on Main Market, AIM and AQSE stock market matters; and Rashid Gaissin from KPMG Law in Kazakhstan, whose broad experience includes capital markets matters.
Practice head(s):
Joan Yu
Other key lawyers:
Nick Heap; Rashid Gaissin
Testimonials
‘Very capable team led by charismatic leader Joan Yu.’
‘Joan Yu – Commercial and results oriented.’
‘A strong firm in the small to mid cap space with a willingness to get the job done.’
‘Nick Heap is a first class lawyer who combines a sharp legal mind and knowledge of the law with an engaging personality and commitment to the client. I have no hesitation in recommending him to corporates.’
Key clients
Metals Exploration plc
Baron Oil plc
Victoria Oil & Gas plc
Empyrean Energy plc
United Oil & Gas plc
Samarkand Group plc
VSA Capital Group plc
Silverwood Brands plc
Pembridge Resources plc
Work highlights
- Advised VSA Capital Limited in connection with the Rule 2.7 announcement for the recommended cash offer by Inform Information Systems Limited for the entire issued, and to be issued, ordinary share capital of Universe Group plc to be effected by means of a scheme of arrangement under Part 26 of the Companies Act 2006 (Acquisition).
- Advised Empyrean Energy Plc as part of its £7.623m fundraising to complete funding requirements for a Chinese offshore drilling project.
- Advised Silverwood Brands Plc, a special purpose acquisition company on its successful placing and admission to trading on the Access Segment of the AQSE Growth Market.
BDB Pitmans
Recommended as ‘very experienced across a range of ECM transactions’, BDB Pitmans is known for advising sponsors, companies and directors in relation to IPOs, secondary fundraisings, the Takeover Code and other regulatory matters relating to public companies and the ECM. The firm has particular experience in AIM transactions. Philip Lamb leads the team that includes Nick McCarthy, who is ‘always available and strong on both detail and giving advice’.
Practice head(s):
Philip Lamb
Other key lawyers:
Nick McCarthy
Testimonials
‘The team is highly responsive, well resourced and punch above their weight. They are very experienced across a range of ECM transactions and offer good commercial advice.’
‘Nick McCarthy is always available and strong on both detail and giving advice. Nick has advised on some difficult transactions but his team always perform.’
‘Client focused and practical. All about getting the job done.’
‘Focused on getting the job done – practical. Good response times.’
Key clients
Sourcebio International PLC
Verici DX PLC
Contango Holdings Plc
Ten Entertainment Group PLC
EKF Diagnostics PLC
Immupharma plc
Circassia Group Plc
AssetCo Plc
finnCap
Zeus Capital Markets
Arden Partners PLC
WH Ireland
Tavira Securities
Mila Resources PLC
North Atlantic Smaller Companies Investment Trust PLC
Frenkel Topping Plc
FIH Group Plc
Quadrise Fuels International PLC
Strand Hanson
Spark Advisory
Oberon Securities
Burges Salmon LLP
Burges Salmon LLP acts for advisers, brokers and AIM companies on fundraisings and transactions, as well as providing advice in relation to regulatory and compliance issues. The firm’s experience includes public M&A, IPOs, secondary fundraisings, demergers and capital reorganisations. Corporate transactions specialist Nick Graves co-leads the team with Rupert Weston, who focuses on corporate finance work, advising on a range of equity market transactions.
Practice head(s):
Nick Graves; Rupert Weston
Key clients
Gooch & Housego plc
ITM Power plc
Michelmersh Brick Holdings plc
Peel Hunt LLP
WH Ireland Limited
Genus PLC
Stockdale Securities
Premier Miton Group plc
FirstGroup plc
EDP Renewables Europe, S.L.U.
Work highlights
- Advised WH Ireland in its capacity as nominated adviser and broker to Northcoders Group plc, an independent provider of training programmes for software coding, on its flotation and placing.
- Advised Nucleus Financial Group PLC, an AIM-quoted fintech provider of platform services to IFAs, on its highly-publicised £145m takeover by pensions and investment company James Hay Holdings.
- Advised EDP Renewables Europe, S.L.U. on the acquisition of a 544 MW wind and solar portfolio across the UK and Ireland.
Covington & Burling LLP
The Covington & Burling LLP capital markets practice combines US capability with expertise in the life sciences, TMT, financial services and energy industry sectors. The firm’s work includes IPOs, rights issuances and other secondary offerings, Takeover Code work, pre-IPO private placements and compliance advice, as well as ESG matters. Cross-border M&A specialist Gregor Frizzell leads the team and can call on the expertise of Simon Amies, who has particular experience advising on ECM matters in the life sciences, technology and clean energy industries.
Practice head(s):
Gregor Frizzell
Other key lawyers:
Simon Amies; Trudy Dargevicuite
Testimonials
‘Simon Amies is good quality reliable advice and support.’
‘Trudy Dargevicuite is excellent – responsive, efficient, knowledgeable. A real pleasure to work with.’
Key clients
Allergy Therapeutics plc
Arecor Therapeutics plc
Canaccord
Cenkos Securities plc
Destiny Pharma plc
Ergomed plc
Peel Hunt LLP
ReNeuron Group plc
Sensyne Health plc
Zeus Capital
Work highlights
- Advised Arecor Therapeutics PLC on its IPO on the AIM market and £20m placing, with a market capitalisation of approximately £62.5m.
- Advised Sensyne Health plc in its £27.5m equity fundraising.
- Advised Peel Hunt LLP, as Nomad and Joint Bookrunner, and finnCap Ltd, as Joint Bookrunner, in a £29.2m follow-on financing by Shield Therapeutics plc.
DAC Beachcroft LLP
‘Excellent operator’ Jonathan Deverill leads the DAC Beachcroft LLP practice and is experienced in M&A, disposals, shareholder agreements, joint ventures, bank finance work, co-investment structures and corporate reorganisations. The firm acts for issuers and for NOMADs/brokers, and has expertise advising AIM-listed clients on non-public acquisitions and disposals.
Practice head(s):
Jonathan Deverill
Testimonials
‘In depth knowledge, able to get up to speed very quickly and deliver on complex tasks within expedited time frames. They also have a very friendly and personable approach.’
‘Jonathan Deverill – Excellent operator who is dedicated and very adept at any tasks thrown his way.’
‘DAC Beachcroft is a fantastic firm to work with. They provide an excellent service.’
Key clients
Poolberg Pharma plc
Deltex Medical Group plc
Voyager Life plc
Clear Capital Markets Limited
Hawkwing plc
Singer Capital Markets Securities Limited
Open Orphan plc
Zeus Capital Limited
Canaccord Genuity
VSA Capital Limited
CloudCoCo Group plc
CAP-XX Limited
Mercator Capital Management Fund LP
Mountfield Group plc (now U.K. SPAC plc)
Lords Group Trading plc
Warpaint London plc
Diaceutics plc
Work highlights
- Advised Lords Group Trading plc – IPO on AIM.
- Advised Poolbeg Pharma plc – IPO on AIM.
- Advised Canaccord Genuity and VSA Capital Limited – advising on £29m fundraising (with warrants) by Invinity Energy Systems.
Dechert LLP
Known for its expertise in the MENA region, notably Lebanon and Egypt, Dechert LLP handles equity transactions, IPOs in Egypt, and a range of advice in the life sciences sector. Sean Geraghty focuses on M&A, IPOs, secondary offerings, joint ventures and general corporate matters. He co-leads the team with Patrick Lyons, whose strengths include equity capital, debt capital and emerging markets work.
Practice head(s):
Patrick Lyons; Sean Geraghty
Dorsey & Whitney
Active in the AIM market, Dorsey & Whitney represents corporates and investment banks on a range of equity capital markets transactions. Practice head Kate Francis is the key name for the firm and has ‘a wealth of experience in the equity capital markets sectors’, including working with issuers and nomads on IPOs and secondary placings as well as domestic and cross-border M&A.
Practice head(s):
Kate Francis
Testimonials
‘Kate Francis is excellent, detailed and fully in control of her transactions. She always finds the time to personally oversee key workstreams and is even fully looped in on the more mundane matters. She is personable and approachable and knows what the important issues are, so can focus a transaction to get the best result without getting distracted by point scoring.’
‘The team is partner led, with good quality associates providing capacity to turn work within expedited timetables.’
‘Kate Francis has a wealth of experience in the equity capital markets sectors. She has excellent technical knowledge, and I trust her to bring the key issues to my attention and provide sensible and practical advice.’
Key clients
Liberum Capital Limited
The Quarto Group Inc.
Watchstone Group plc
Investec Bank plc
Stifel Nicolaus Europe Limited
finnCap Limited
Canaccord Genuity Limited
Numis Securities Limited
Corero Network Security plc
Inland Homes plc
Microsaic Systems plc
WH Ireland Limited
Inland ZDP PLC (Standard List)
Work highlights
- Advised Microsaic Systems plc on its institutional placing.
Druces LLP
Druces LLP is experienced in secondary fundraisings, acquisitions and new IPOs across AQSE, AIM and the Main Market, acting for issuers, financial advisers, nominated advisers and brokers. Clients note that ‘the commerciality of the team matches its excellent legal abilities’. Practice head Dominic Traynor is ‘an exceptional legal adviser, both commercial and practical’.
Practice head(s):
Dominic Traynor
Other key lawyers:
Jack Dervyn; Mark Lamph
Testimonials
‘Throughout the years whenever we needed work in a certain area Druces always was able to deliver with a strong team.’
‘Personal touch, long-standing relationships built on trust and hard work.’
‘The practice is close knit with a genuine feel to it. There is a lot of partner time which makes any client feel welcomed and appreciated. Overall the staff are extremely knowledgeable and can be trusted on any issue in the ECM space. As they are a smaller practice they can be more flexible and adapt when needed based on the transaction and the work to be completed.’
‘Very personable, easy to talk to and make everything seem simple.’
‘Dominic Traynor is very knowledgeable and trustworthy in all situations.’
‘Jack Dervyn is one of the most competent lawyers I have ever met. Brilliant both with clients and the technical nature of what needs to be done.’
‘The team’s size lends itself very well to having the key individuals being very familiar with my company’s operations, and match the appropriate level of experience to the tasks required. Druces internal communication is seamless. Most importantly, the commerciality of the team matches its excellent legal abilities; as a result we get practical, high quality legal advice, at a reasonable price.’
‘Dominic Traynor in particular is an exceptional legal adviser, both commercial and practical – his depth of experience in industry matters and general commerciality provides insight well beyond that expected of a legal adviser. His legal skills are excellent, and he effectively uses the support team.’
Key clients
Airnow PLC (formerly appScatter Group PLC)
Amedeo Resources PLC
Athelney Trust Plc
Beaumont Cornish Limited
Boston International Holdings plc
Caerus Mineral Resources Plc
Conico Ltd
Ecovista Plc
Egdon Resources PLC
Finablr PLC
Golden Metal Resources Ltd
Goldplat PLC
Great Southern Copper PLC
Greatland Gold PLC
GSTechnologies Ltd
Katoro Gold PLC
Kavango Resources plc
Kibo Energy PLC
MAST Energy Developments plc
Mosman Oil and Gas Ltd
Mustang Energy PLC
Nostra Terra Oil and Gas Company PLC
Oilex Ltd
Panthera Resources plc
Power Metal Resources plc
Red Rock Resources PLC
Regency Mines PLC
RentGuarantor Holdings PLC
Rockfire Resources PLC
SI Capital Ltd
SigmaRoc PLC
Savannah Resources PLC
Starvest PLC
Thor Mining PLC
TomCo Energy PLC
VSA Capital Limited
Work highlights
- Advised MAST Energy Developments PLC, on its placing of new ordinary shares, issue of adviser shares and admission of the enlarged share capital to the Official List and to trading on the London Stock Exchange plc’s main market for listed securities to raise gross proceeds of approximately £5.5m.
- Advised GSTechnologies Limited, the fintech and information technology solutions company, in connection with a secondary placing to raise a gross amount of approximately £1.4m.
- Advised Beaumont Cornish Limited, Peterhouse Capital Limited and Shard Capital Partners LLP in connection with Bradda Head Holdings Limited’s admission to AIM and conditional placing to raise £6.2m before expenses.
Edwin Coe LLP
Experienced in advising AIM companies and their advisers on a range of transactions, Edwin Coe LLP handles listings on the London Stock Exchange as well as other recognised investment exchanges, including Acquis Exchange. Key strengths for the practice include advising on compliance issues and securities legislation. Russel Shear is a go-to name in the area and is head of the firm’s corporate and commercial team.
Practice head(s):
Russel Shear
Other key lawyers:
Daniel Bellau
Testimonials
‘Entrepreneurial busy firm.’
‘Daniel Bellau understands everything small cap with a commercial eye.’
‘Good senior team that takes a commercial approach to small cap equity capital markets.’
‘Both Russel Shear and Daniel Bellau provide excellent legal advice but also provide commercial solutions for their clients.’
Key clients
Palace Capital plc
Angelfish Investments plc
Hybridan LLP
Novum Securities Limited
Ethernity Networks Limited
HC Wainwright & Co.
Oberon Investments plc
Brandshield Systems plc
Obatan LLC.
SPARK Advisory Partners Limited
Oriole Resources Plc
Gowin New Energy Group Limited
Beaumont Cornish
Work highlights
- Advised HC Wainwright & Co, US dealer broker, on a private placement of ordinary shares in an AIM quoted mining company.
- Advised Fox-Davies Capital and Beaumont Cornish Ltd as the nominated adviser and broker on the AIM admission of Cleantech Lithium, a lithium battery research and development business.
- Advising Beaumont Cornish (the Nominated Adviser), as well as finnCap and S.P. Angel (as joint brokers) on green energy company Atome Energy PLC’s admission to AIM.
Fladgate LLP
Acting for domestic and overseas companies, nominated advisers and brokers, Fladgate LLP’s expertise covers flotations, reverse takeovers and secondary fundraisings. The firm has a track record in cross-border matters and, in addition to advising on AIM transactions, has experience with listings and offerings on the Aquis Exchange. David Robinson spearheads the practice and specialises in equity capital markets work and public company and private company M&A.
Practice head(s):
David Robinson
Other key lawyers:
Neil Vickers; Orit Rioumine Gold; David Lee
Testimonials
‘The team as a whole covers the small-mid cap equity capital markets in terms of knowledge of the different stock markets and key industry sectors.’
‘The individuals in the team are both excellent lawyers and very good company making them a pleasure to work with. Particular stand outs are: David Robinson, Neil Vickers, Orit Rioumine Gold and David Lee.’
Key clients
4Global PLC
NFT Investments PLC
Windward Ltd.
Gfinity PLC
All Active Asset Capital Limited
Cenkos Securities plc
Pineapple Power Corporation plc
Silver Bullet Data Services
Global Petroleum Limited
Xexec ltd
East Side Games Inc. (formerly LEAF Mobile Inc.)
Angus Energy plc
SP Angel Corporate Finance LLP
Work highlights
- Acted for 4Global PLC on its IPO on the AIM Market of the London Stock Exchange which raised £4m and valued the company at £24m.
- Advised NFT Investments PLC, an investment company specialising in non-fungible tokens (NFTs), on its admission to the AQSE Growth Market.
- Advised Windward Ltd., a leading predictive intelligence company seeking to digitalise the global maritime industry, on its £126m AIM listing on the London stock exchange.
Fox Williams LLP
Fox Williams LLP combines experience in the equity financing of AIM transactions with a track record in public takeovers and private M&A, as well as regulatory and corporate governance advice. Notable expertise includes advising directors on AIM and FCA investigation and disciplinary proceedings. The firm’s ECM work focuses on the key sectors of financial services, natural resources and technology, particularly fintech. Richie Clark leads the team and specialises in AIM listings and fundraisings.
Practice head(s):
Richie Clark
Key clients
finnCap Group Plc
Allenby Capital LLP
Shore Capital & Corporate Limited
Plexus Group Holdings Plc
Scotgold Resources
Summerway Capital Plc
Directa Plus Plc
Tatton Asset Management Plc
Westmount Energy Ltd
Cedarvale Holdings Ltd
Arden Partners Plc
Work highlights
- Advised long-standing AIM listed client Summerway Capital plc on its £80m acquisition of Vertigrow Technology Ltd and associated £8.5m fundraise.
- Advised long-standing client Allenby Capital Limited, Optiva Securities Limited and Clear Capital Markets Limited on the recent AIM IPO of Bens Creek Group plc and related placing.
- Advised Directa Plus, a leading producer and supplier of graphene nanoplatelets based products for use in consumer and industrial markets, on a £7m secondary fundraising by means of a placing and direct subscription.
Locke Lord LLP
Locke Lord LLP advises domestic and international companies, boards of directors, nominated advisers, brokers, sponsors and underwriters on a broad range of transactions. The practice has experience in Main Market and AIM market transactions on the London Stock Exchange including premium and standard listings, secondary equity fundraisings, pre-IPO fundraisings and M&A transactions, as well as corporate governance and regulatory advice. Practice head Sean Page advises on public and private M&A, ECM and venture capital transactions.
Practice head(s):
Sean Page
Testimonials
‘Excellent knowledge of the rules and practical functioning of the ECM.’
‘Sean Page has many years experience in AIM, Standard List and the Main Market (Premium). His advice is always technically sound, practical and is always given in the context of the commercial objectives of the client.’
Key clients
Thalassa Holdings
ADM Energy PLC
Cataleya Energy Ltd
Adriatic Metals PLC
Roquefort Investments PLC
Anemoi International
Macfarlanes LLP
The Macfarlanes LLP ECM practice is co-led by Robert Boyle, who advises on a range of corporate transactions, particularly for listed clients; and Richard Burrows, whose experience covers capital markets transactions, public takeovers, private capital raisings and private acquisitions.
Practice head(s):
Robert Boyle; Richard Burrows
Michelmores LLP
Led by the ‘commercial and experienced’ Ian Binnie, the Michelmores LLP ECM practice specialises in the small-cap market. The firm advises companies, corporate finance houses and brokers on IPOs, fundraisings and M&A, as well as complex restructurings. Cross-border work is a particular strength for the team.
Practice head(s):
Ian Binnie
Testimonials
‘Understand SMEs.’
‘Ian Binnie is commercial and experienced.’
Key clients
Superdielectrics Group plc
Arden Partners Plc
SPARK Advisory Partners LLP
Allenby Capital Limited
Auctus Advisers LLP
Hybridan LLP
Mining, Minerals & Metals plc
Mobeus Equity Partners LLP
Panmure Gordon (UK) Limited
Singer Advisory LLP
S.P. Angel Corporate Finance LLP
Sutton Harbour Group plc
VSA Capital Limited
Work highlights
- Advised Mobeus Equity Partners LLP on the up to £36m sale of its venture capital trust business including £20m vendor placing by AIM quoted acquirer Gresham House plc.
- Advised Arden Partners plc as nominated adviser and broker in the £8.8m placing and admission to AIM of TSX-V listed Arrow Exploration Corp.
- Advised S.P. Angel Corporate Finance LLP on its tender offer and off-market share buyback by JKX Oil & Gas plc following its delisting from the premium segment of the Official List.
Mills & Reeve LLP
Mills & Reeve LLP stands out for its technology and life sciences expertise, advising companies in these sectors seeking admission to the capital markets and handling fundraising and general corporate and commercial work. Stephen Hamilton spearheads the practice and has experience in the London Stock Exchange’s Main Market and AIM, including fundraisings, IPOs, M&A and corporate restructuring matters.
Practice head(s):
Stephen Hamilton
Other key lawyers:
Emma Plaxton
Testimonials
‘They are a small firm with good individuals so for smaller cap companies, one is an important client which drives a high level of attention and commitment to our work. A tight knit team that is efficient. Stephen Hamilton and his senior associate Emma Plaxton demonstrate these qualities.’
Key clients
Eckoh plc
Skillcast Group plc
Randall & Quilter Investment Holdings Ltd.
Midwich Group plc
IQGeo Group plc
Bango plc
Quixant plc
Scientific Digital Imaging plc
Xaar plc
Hybrid Software Group plc
GRC International plc
Diurnal Group PLC
Work highlights
- Advised Skillcast Group plc on its £33m AIM IPO.
- Advised 4BaseBio plc on its £14m AIM IPO.
- Advised Eckoh plc on the £13m acquisition of Syntec Holdings together with a related £13.7m institutional AIM fundraising.
Penningtons Manches Cooper LLP
Penningtons Manches Cooper LLP has experience in a range of ECM transactions, including Main Market and AIM IPOs, secondary transactions and AQSE secondary fundraisings. Seb Orton leads the team and focuses on IPOs, secondary fundraisings, M&A and assisting listed companies with corporate governance mandates.
Practice head(s):
Seb Orton
Key clients
Oxford Cannabinoid Technologies Holdings PLC
finnCap
Stanford Capital
Elixirr International PLC
SkinBioTherapeutics plc
Peel Hunt
Work highlights
- Advised Oxford Cannabinoid Technologies Holdings PLC on its Main Market IPO (including a £16.5m placing of new shares).
- Advised finnCap (Nomad and joint broker) and Peel Hunt (joint broker) on Revolution Bars Group’s £21m equity fundraising on AIM.
- Advised finnCap as Nomad and broker to Parsley Box on a £7m equity fundraising on AIM.
Squire Patton Boggs
Increasingly active on bank-side ECM instructions, Squire Patton Boggs handles a range of transactions across the energy, natural resources, technology, industrials and consumer sectors. Jane Haxby co-leads the team with Hannah Kendrick and both have expertise in M&A, fundraisings, takeovers and reorganisations.
Practice head(s):
Jane Haxby; Hannah Kendrick
Other key lawyers:
Jayson Marks
Testimonials
‘We use the corporate team for our corporate finance, ECM and M&A requirements, and they provide an excellent service – very knowledgeable, very responsive and great knowledge of our business.’
‘Our team is led by Jayson Marks, who provides terrific and personal service, he knows our industry and business and is very commercial, as well as being very knowledgeable and responsive.’
Key clients
Aptamer Group plc
GB Group plc
Genuit Group plc (formerly Polypipe Group plc)
Animalcare Group plc
Xeros Technology Group plc
WH Ireland Group plc & WH Ireland Limited
Canaccord Genuity Limited
Applied Graphene Materials plc
Studio Retail Group plc
Coats Group plc
Enwell Energy plc
Metals Exploration plc
Work highlights
- Advised Aptamer Group plc on its AIM IPO and £10.8m placing with a market capitalisation of £80m.
- Advised GB Group plc on its £300m placing and related acquisition of US business Acuant Intermediate Holding Corp for £547m.
- Advised Canaccord Genuity Limited on the $41m placing, subscription and retail offer (via PrimaryBid) and $55m convertible bond issuance by Alaskan oil and gas-focused, Pantheon Resources plc.
Watson Farley & Williams LLP
Advising listed companies, investment banks, nomads and brokers, Watson Farley & Williams LLP has a track record in AIM-related matters, notably IPOs and related pre-IPO financing, secondary placings, rights issuances, takeovers, private placements and M&A, as well as corporate governance matters. The firm’s sector expertise lies in the transport, energy and natural resources industries. Practice head Chris Kilburn has particular experience in AIM transactions while corporate specialist Jan Mellmann
covers the spectrum of capital markets advice.
Practice head(s):
Chris Kilburn
Other key lawyers:
Jan Mellmann
Testimonials
‘Watson Farley has a number of partners with diverse experience across the different elements of the oil and gas sector and different countries’ legal and regulatory systems.’
‘Jan Mellmann gets directly involved and understands the needs of smaller companies as well as large ones.’
Key clients
88Energy Limited
Aminex plc
Chaarat Gold Holdings Ltd
Chesterfield Resources Plc
Coro Energy plc
Eco (Atlantic) Oil & Gas
Pala Investments Limited
Sandfire Resources Limited
Tianqi Lithium Corporation
TORM plc
Tower Resources
United Oil & Gas plc
VSA Capital Limited
Work highlights
- Advised Eco (Atlantic) Oil & Gas Ltd. on its successful oversubscribed $25m equity fundraising via a placing to institutional investors, a retail offer on the PrimaryBid platform and a subscription by way of a private placement.
- Advised Advance Energy plc on the acquisition (via its subsidiary Advance Energy TL Limited) of a 50% interest in Carnarvon Petroleum Timor, Unipessoal Lda for a consideration of $20m and on raising $30m from the AIM market to fund the acquisition.
- Advised TORM plc on its agreement to purchase eight 2007-2012 MR product tankers with chemical trading capabilities from TEAM Tankers Deep Sea Ltd., for a total cash consideration of $82.5m and the issuance of TORM shares.